Hoya, Pentax Announce Merger

A joint press release from Hoya Corp. and Pentax Corp. has announced that the two companies plan to merge to become a single entity late next year. Discussions are continuing between the two companies, with a definitive agreement to proceed likely to be signed next April. Should this happen, the deal would be put before shareholders of Pentax for approval in June, and if approved the new company - Hoya Pentax HD Corp. - would come into being on October 1st, 2007. Hoya isn't required to gain approval from its own shareholders for the merger, but would seek approval from its shareholders for changes to its board of directors, and to the company's articles of incorporation...